Question: 2 . What statement below is true regarding the effect of incorrectly including the issuance of Common Stock in the Retained Earnings column instead of

2 .

What statement below is true regarding the effect of incorrectly including the issuance of Common Stock in the Retained Earnings column instead of the Assets column?

multiple choice

1

There will no effect as Assets still equal Liabilities plus Stockholder's Equity.

Assets and Retained Earnings will be overstated, the accounting equation will be in balance.

Assets will be understated and Stockholder's Equity will be overstated.

Both Assets and Stockholder's Equity will be understated.

3 -

.

What would be the amount of total Assets and total Retained Earnings if the payment of dividends weren't made?

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